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    (Original post by Rakas21)
    The reasons for doing i suspect are the falling postgraduate numbers (this will obviously stop that), the fact that postgraduates on average earn 14% more than somebody with a Bachelors and that only around 7% are expected to not pay the loan back. Being through student finance and restricted in number it will presumably be heavily means tested so that those 40,000 end up going to the lowest incomes rather than any subject or university restriction. It will likely i think benefit the first few years of graduates that come through before we end up with similar undergraduate saturation of the labour market.

    I'd do an Economics Masters if i can get this finance though i agree it's electioneering from the coalition.
    Not questioning the validity of those statistics, is the government's logic essentially: if we fund more people to masters level, then more people will be earning 14% more?
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    (Original post by Smack)
    Not questioning the validity of those statistics, is the government's logic essentially: if we fund more people to masters level, then more people will be earning 14% more?
    Possibly, they say graduates still on average earn more than not despite the saturation of undergraduates in many labour markets.

    Plus they can presumably reduce university funding and profit from the interest repayments.
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    (Original post by Rakas21)
    Possibly, they say graduates still on average earn more than not despite the saturation of undergraduates in many labour markets.
    That's likely because, due to qualification inflation, degrees have became a prerequisite for securing jobs in many fields and professions, and as such, people without degrees have seen their employment prospects diminish relative to those who have degrees, making it more difficult for them to secure higher levels of employment.

    There is strong evidence to suggest that the introduction of postgraduate funding similar to that of undergraduate funding will simply end up with masters degrees being the new bachelors degrees: in my field, engineering, we've had masters level degrees funded the same way as bachelors ones, and that's exactly what has happened.

    If we want higher paid employees so we can harvest a greater amount of income tax, then we should look into how we can increase the amount skilled jobs that have higher salaries attached.
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    If you're under 30, I'm assuming you can still get a CDL for help with living costs whilst the other loan will cover all or most of your tuition fees. Unfortunately, for those of us over 30, we only have the CDL option. The masters I looked at had tuition fees of £10500. bizarre that they used over 30s as the example in the autumn statement.
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    (Original post by Medici103)
    If you're under 30, I'm assuming you can still get a CDL for help with living costs whilst the other loan will cover all or most of your tuition fees. Unfortunately, for those of us over 30, we only have the CDL option. The masters I looked at had tuition fees of £10500. bizarre that they used over 30s as the example in the autumn statement.
    It is not guaranteed that you will get it. You need a good credit history and plenty of under30s are unlikely to have it.
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    (Original post by Medici103)
    If you're under 30, I'm assuming you can still get a CDL for help with living costs whilst the other loan will cover all or most of your tuition fees. Unfortunately, for those of us over 30, we only have the CDL option. The masters I looked at had tuition fees of £10500. bizarre that they used over 30s as the example in the autumn statement.
    As I understand it, the CDL in its current form will no longer be available to the under 30s. T&Cs specify that they can only be used for courses or training which do not attract any funding from other sources, meaning that the over 30s could still get one but the under 30s couldn't.

    It's possible that CDLs might be overhauled to align them better with the new funding arrangements, but I haven't seen anything about it.
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    So there's 40,000 of these available only for the poorest of students? And it's a maximum of £10,000, which must in-turn cover your fees, living expenses and everything else? Does it work in the same way as SFE in terms of repayments?
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    (Original post by Blue Label)
    The age limit is great. People over 30 should be working in careers by now and although circumstances change and you can lose your job you should have work experience. Those under 30 often do not have that work experience and therefore the option of gaining a Masters degree to help them compete within the marketplace is a great thing. The last thing we want is older people taking up Masters courses as a mid career hiatus as that'd come at great cost to the taxpayers in the country.
    Honestly: A person with 30 who has worked for some years already is more likely to get a well-paid job after the Master, then a student who has never seen anything else, than a school. A Master does NOT provide you with work experience, a Master is only given you the skills to do certain jons, for which a undergraduate degree is not sufficient. The only advantage I see here, is that the youth unemployment rates drop. Mid career hiatus... I doubt a lot of people are willing (or able) to give up their income for a Master just for the sake of it (actually most people refrain from doing a Master without the need for it, as soon as they work and have responsibilities) and on the other it is exactly the mid-career stage, where people usually opt to do e.g. a Master in the area of Economics/Business/Law to be promoted afterwards from specialist to a managing position. Others might find work after ten years boring and want to take a Master because they hit a glass ceiling only people with Master can get through.

    And really, how logic is it to fund an older person a three year or four year undergraduate, in the case of Oxbridge with college fees on top, and then refuse them a Master?!?!


    (Original post by Blue Label)
    Let me ask you a question. Where would the money come from to fund Masters degrees for people of all ages?
    From those people, who have worked some years, before they decided post-30 to get a Master?
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    (Original post by Smack)
    I'm not sure who this benefits. There already exist integrated masters degrees, which I understand were primarily created in order to allow students to study to masters level whilst paying undergrad level fees.
    I think exactly those undergraduate Master students benefit from it. They are know ideally free to choose wether they do a MSc at another university which better suits there needs (e.g. the specialization they actually want to do or a real Master thesis as part of the degree for those aiming at research/getting some actual useful skills). I found it odd, to only fund four years, when you stay at the same uni. And in fields like International Relations, where already the rich kids are advantage, some intelligent students from poorer backgrounds will be able to compete for PHD and thus the variety of backgrounds of people working in the background of politics/NGOs would widen. (Although PHD funding and unpaid interships remain.)
    Nevertheless I see the problem, too, that it is not useful for any degree.
    In "in demand" fields we should be encouraging employers and business to pay for further learning.
    That would be definitely ideal!

    I think this reeks of a pre-election strategy to try and get students on the side of the government, a government which isn't particularly popular amongst students. See: the under 30 rule for these loans.
    Probably you are right.
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    Not sure how I feel about this. If doing a masters becomes a norm then maybe people are going to be backed into a corner of thinking "well now what do I do to stand out?" Phds might become a norm one day!

    A lot of people might stay in uni because hey why not. That was a factor for me with my first masters.
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    (Original post by laurakate1988)
    Not sure how I feel about this. If doing a masters becomes a norm then maybe people are going to be backed into a corner of thinking "well now what do I do to stand out?" Phds might become a norm one day!

    A lot of people might stay in uni because hey why not. That was a factor for me with my first masters.
    Doing Masters is already a "norm", at least concering those, who have no problem to pay for that extra-year. To do a Master to stand-out is a bad reason. You should a Master, because that is what you need for your career.

    I think, we are already heading to a situation, where you need a humanity PHD and unpaid internship for basic entry positions in the non-industrial sector. So in my opinion, affordable Master will widen participation in those fields, where we already have that situation.
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    Dunno what source this is from but a lecturer at my uni told us that a recent survey showed that 12% of the UK population hold masters degrees and 6% have a PhD.
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    (Original post by laurakate1988)
    Dunno what source this is from but a lecturer at my uni told us that a recent survey showed that 12% of the UK population hold masters degrees and 6% have a PhD.
    How is that any relevant?
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    If more people do postgraduate degrees those stats will change and so will the extent to which such job candidates can stand out on an academic basis.

    (Original post by Juichiro)
    How is that any relevant?
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    (Original post by laurakate1988)
    If more people do postgraduate degrees those stats will change and so will the extent to which such job candidates can stand out on an academic basis.
    Who said that postgraduate degrees are merely tools to stand out on an academic basis? A lot of people use them as career changers.
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    Plus to add to that, there are some careers which require a masters (engineering jobs and solicitor firms come to mind)
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    (Original post by Juichiro)
    Who said that postgraduate degrees are merely tools to stand out on an academic basis? A lot of people use them as career changers.
    That's why I'm doing mine. I'm just saying that where "I'm doing it to stand out" might have been a main reason to do a masters, that aspect of it will become a moot point if more and more people do them anyway.
 
 
 
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